IMF Review Mission Arrives in Pakistan for Economic Assessment

Karachi: A review mission of the International Monetary Fund (IMF) has arrived in Pakistan to assess the country’s economic performance, with the first round of talks commencing in Karachi.

During the visit, the IMF team will conduct a detailed review of economic performance for the first six months of the fiscal year. Discussions with officials of the State Bank of Pakistan will focus on foreign exchange reserves, interest rates, and banking regulations.

The visit is part of loan programs exceeding $8 billion, under which Pakistan has already received more than $3 billion. According to sources in the Ministry of Finance, Pakistan has met nearly all major IMF targets except for tax collection.

The Federal Board of Revenue (FBR) has faced a shortfall of Rs372 billion in tax revenues over the past seven months, a matter that will be discussed with the IMF delegation. Pakistani authorities are expected to request some relief in the annual tax target in light of prevailing economic challenges.

Officials claim that macroeconomic stability is improving, citing growth in large-scale manufacturing and a fiscal surplus of Rs1,180 billion contributed by the provinces to support the economy.

The second phase of negotiations will take place in Islamabad, where discussions will extend beyond economic indicators to governance reforms, anti-corruption measures, and asset declarations by public officials.

The IMF mission is scheduled to remain in Pakistan until March 11 and will also hold consultations on the broad framework of next year’s federal budget.

The government maintains that despite ongoing challenges, the economic reform program remains on track, with continued efforts to curb inflation and contain the current account deficit.